The October 2013 Dataquick home values report is out for Orange County (OC).
Over the past 12 months, the median value for all homes sold in the OC has increased 18.7% to $540,000. That’s $10K lower than last month’s median for all homes sold and $20K lower than the August median.
Condominium values rose 25.3% to $376,000 or $4K lower than the last two month’s median.
Resale homes had year-over-year gains to 19.3% to $610,000. That’s $2K lower than last month and more than $15K lower than August.
New construction had 3.6% price increase during the same period with a median sale price of $702,500 showing a $2K improvement from last month but, still more than $10K lower than the August median.
So what’s happening here in the North OC, Anaheim Hills, California? Median home values, for all homes sold in the 92808 and 92807 zip codes, rose 10.5% over the past 12 months to $508,000. That’s much better than last month but, still more than $20K below August.
Although home values show year-over-year gains, the past 3 month’s sales demonstrate a significant change in home values. My prediction is that home values in the North OC peaked in June 2013 and will continue to decline an additional 1% (to approximately $535K for all homes sold in the OC) through year’s end.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx